Delegat agrees to buy 838ha farm for $29.3M, extending footprint in Hawkes Bay

Tue, 05 May 2015

By Jonathan Underhill May 6 (BusinessDesk) - Delegat Group, New Zealand's largest listed wine company, has agreed to buy an 838-hectare farm in the Hawkes Bay for $29.3 million, extending its footprint in the region and lifting production from 2020. The purchase of the farm in the Crownthorpe region of Hawkes Bay will settle in May 2016 and be funded from existing long-term bank facilities, the Auckland-based company said in a statement. The vendor is Hopkins Farming Group, a Manawatu-based company that owns about 4,700ha of property, com...

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